Hi Sunil
thanks for pointing out this accounting mismatch. In my view, though i might be wrong, may be some of these income is clubbed with 'sale/maturity of investments'. though I have never seen such a thing before.
Best
Rajat
Hi Sunil
thanks for pointing out this accounting mismatch. In my view, though i might be wrong, may be some of these income is clubbed with 'sale/maturity of investments'. though I have never seen such a thing before.
Best
Rajat
Hi,
In every market there are few branded pan india players as well as local players, and a retailer always has limited space to stock (multi-brand) SKUs. It becomes very difficult for a company to enter a new geography and break into the existing distribution network that too when financial muscles to advertise and market the brand are very limited.
Got to speak to few plastic furniture retailers, they all said quality is at par with others when compared to similar category of chairs (entry level, premium etc). In terms of pricing Supreme, Nilkamal and Cello sell at higher prices which might range from ~10% to ~30% depending on the category.
Had sent a questionnaire to Prima management, received very curt replies. Tried reaching out to promoter but never get through. I'm forced to believe management is not very communicative.
best
Rajat
In Vidhi, capacity has been added. So sales growth can be there. In Dynemic, capacity will be added in 2016. Hence, growth will come later. Difference in valuation is quiet a bit, which makes Dymenic an attractive bet. should be bought only if one has a min 2 year view.
-Jiten Parmar
@krushankumar
Dr vijaymalik has very well written an article on ' Gimmicks used by managements', it would certainly help to understand the ways and means the managenments uses in laundering the balancesheet,P/L and cash flow statements.
According to the article FCF is better matrix to judge the company rather OCF because it can also be manipulated.
Check out at drvijaymalik.com
hope it helps
regards
chirag
@anup47, Because of strict pollution norms in Europe and USA ..industry moved from Western countries to Asian countries such as India, China etc..
@Prateek, agreed with your point . but operating margins of dynemic is always better than vidhi.
When vidhi is trading @20 times where as dynemic is trading @5 times., clearly valuation gap exists in later one.
Disclosure: Invested in both as a tracking position.
@chiragjain1976 It is indeed extremely difficult to sit on cash. To help myself, I locked cash in FDs after long time.
Is FCF concept Illusive in India? As most of the companies are not FCF positive? Isn't OCF is better matrix to judge the company?
Please suggest your views
Thanks
Krushna
Thanks a lot @nikhildoshi for sharing the article. Am summarizing below some of the mistakes made by these players and where VMart is currently on those parameters. Of course, there is a big difference in the business model of the players covered here – whererby these are all discount retailers focused on metro or Tier 1, whereas VMart is a value retailer focused on Tier 2 and Tier 3 cities.
However, these are all critical metrics that need to be tracked for a retailer like VMart, and anyone invested should certainly keep an eye on each of these including the growth metrics (sales per square feet, store openings) and working capital (Receivables, inventory)
Without getting into too many argument, all I would say is.
We need to give the management benefit of doubt. Unless we hav something blatantly bad, we should not drop ideas due to points like Auditor is a small firm
India continues to buck the trend (28% growth in exports in July) despite US July shrimp imports dropping 4%
India led the pack by exporting 11,635 metric tons, up 28.3% from a year earlier surpassing Ecuadorean exports.
Ecuador, which last July was the biggest exporter to the US, is still the second biggest, according to recently released statistics from the National Marine Fisheries Service (NMFS).
Indonesia stayed in third place overall by exporting 9,211t this July, up 12.9% year on year. Thailand (5,290t in July 2015) rose to fourth place, overtaking Vietnam (4,063t) which saw a precipitous 43% drop.
More detailed report by USDA (giving exports figures in terms of value) will be out by tomorrow
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